Veterans, reservists and military spouses have unique skills and experiences that help make our organization stronger. We’re committed to providing helpful resources to service members, veterans and their families.
Through career opportunities, financial education and nonprofit partnerships, we support service members and their families as they transition to civilian life.
At Bank of America, we have a number of programs and resources in place to help our veterans, reservists and military spouses transition to our company culture and grow their career with us.
We know many of our military employees may continue to serve in the National Guard or Reserve. We are proud of their continued service to our country and provide all military employees, full-time or part-time, with paid time-off for their Military Reserve or National Guard annual training and continued coverage of their health and insurance benefits.
We’re also proud to offer military spouses the opportunity, stability and flexibility they need to support their service member and families. Employment can be a difficult for military spouses who manage many challenges back home while their wife, husband, or partner is deployed. Abby Hollingsworth knows these challenges firsthand, as she’s balanced family obligations with her career at Bank of America. Abby and her family have moved five times in the past six years with her active duty husband. With every move, our work flexibility programs have assisted Abby so she can continue to focus on our customers and clients. Our Job Transition Assistance Program is another bank initiative that gives every military spouse at our company access to a streamlined, personalized program should they need help connecting with a position in a new state or city. In addition, our Military Support & Assistance Group (MSAG) employee network includes a military spouse group which holds a quarterly forum for sharing of information, resources and support for spouses working at the bank.
Veterans and military spouses can face tough challenges during extended deployments and Permanent Change of Station moves. Our Life Events Services (LES) team helps veteran employees navigate significant life events, including helping them connect to community resources, confidential counseling, childcare and other referral programs and services.
At Bank of America, we are proud to offer employment opportunities to talented veterans, reservists and military spouses. Easing the transition into the civilian world is our way of giving back to the people and families who have sacrificed so much to protect our way of life. We employ thousands of veterans and military spouses. Building on our 2014 goal and longstanding commitment, we have hired more than 10,000 veterans, guardsmen, and reservists.
Our dedicated Military and Veteran Recruiting Team partners with numerous military nonprofits, veterans’ groups and local organizations to identify and recruit veterans, and has a regular presence at military job fairs coast to coast.
The transition process doesn’t end once hired. We support our military employees with tailored training and mentorship programs. These resources are in place specifically to ensure our colleagues transitioning to civilian life are given the tools they need to be successful.
Success also comes in the form of employee connection. Our Military Support & Assistance Group (MSAG) is an employee network that creates opportunities for advancement and leadership development through networking, mentoring, volunteer events and information forums. MSAG has 43 chapters and more than 11,000 members around the country with very active membership.
We have partnered with Degreed.com to create training tools designed for veterans and their spouses as they plan for and look to make the transition into civilian life.
At Bank of America, we honor and respect where you’ve been, and want to help you get to where you want to go. We’re proud to offer tools and resources to assist you with a successful transition to civilian life. Are you interested in securing a civilian or government job, starting your own business or going back to school? Our Military Transition Action timeline puts in one place many of the criticial items to consider, starting 18 months prior to your transition.
For nearly 100 years, Bank of America has served the military community. With roughly 1 million service members expected to transition out of the military over the next five years, we have committed to doing even more to help make that transition successful.
We’re proud to partner with national and local military and veteran support organizations across the country to help ensure our veterans and their families have the support they need to thrive. We do this through financial support, and through our employee volunteers, who contributed more than 50,000 volunteer hours at military events last year.
Here’s a snapshot of some of the great work our partners are doing:
Veteran Entrepreneur Lending Program: In 2018, we launched a $20 million lending program for U.S. military veteran entrepreneurs. Administered through participating community development financial institutions (CDFIs), the Veteran Entrepreneur Lending Program will connect U.S. military veteran entrepreneurs with affordable capital to launch and grow their businesses.